Trend Trading Strategy Simple Money Making
Trend Trading Strategy Simple Money Making uses a combination of indicators trend and an indicator of support and resistance levels. According to the author of the strategy, 80% of its signals are profitable.
Input parameters
- Currency pairs: any
- Timeframe: H1 and older
- Bidding time: any
- Risk management: Choose one lot sizeto risk no more than 2-5% of the deposit per transaction
Used indicators
- ROIAlert
- Heiken Ashi
- EMA (72, Closed)
- EMA (12, Closed)
Setting indicators and system template
- Unpack the archive with templates and indicators
- Copy the indicators to the folder MQL4 -> indicators
- Copy the templates into the templates folder
- Restarting the terminal
- Open the chart of the desired currency pair
- Install a template named Simple Money Making
The schedule should look like this:
Signals indicating the opening of a buy position
- the price pushed up from the red levels of support;
- Heiken Ashi green candle;
- EMA 12 (yellow) crossed EMA 72 (green) from bottom to top.
Signals indicating the opening of a sell position
- the price pushed down from the blue resistance level;
- Heiken Ashi candle in red;
- EMA 12 (yellow) crossed EMA 72 (green) from top to bottom.
Setting Stop Loss and Take Profit
- stop loss is set above/below the previous local maximum or minimum;
- Take Profit is set at 50-100 points.
According to the author, the Simple Money Making strategy is focused on opening 10-15 trades within a month. In our opinion, the disadvantage of the strategy is the lack of clear guidelines for setting a take profit order. It is quite possible that adding an additional level indicator, such as a pivot, would give a clearer understanding of this point.
Before using Simple Money Making trading strategy on a real deposit, we recommend that you test it on demo account.
Download Simple Money Making Strategy Template and Indicators
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